Helping small businesses and nonprofits during the COVID-19 crisis.
The Greater Portland Council of Government is launching a Rapid Response Micro-loan Program to support the region’s small businesses and nonprofits that need working capital amidst the COVID-19 crisis.
Qualifying businesses and organizations will be eligible for loans of up to $10,000 at 0% interest for the first two years. Portions of the loan may be forgiven if businesses meet certain requirements or participate in other GPCOG initiatives.
The agency has committed to lending as much $250,000 to businesses in the region through the new program. The loans will supplement existing state and federal small business lending programs offered through the Small Business Administration and the Finance Authority of Maine.
GPCOG’s micro-loan program was created in coordination with the City of Portland, which has developed a similar program. GPCOG’s program will primarily support businesses located in communities outside the city.
Submit an application
Businesses and nonprofits can apply for the GPCOG’s micro-loan program by downloading an application and returning it to GPCOG.